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(IT-NEWSWIRE.COM, November 13, 2017 ) A non specific medication is pharmaceutical medication item that is bio comparable to the marked medication. Bioequivalence implies there is no critical distinction between the two medications as far as security, viability and organization. Non specific medications are typically affirmed after patent lapse of the trend-setter medications. One case of a notable non specific medication is metformin that is utilized to bring down glucose levels in diabetes. Metformin is the non specific type of a medication that is accessible under the brand name Glucophage.
Worldwide nonexclusive medications showcase is driven by the commonness of different sicknesses, requirement for financially savvy drugs for treatment, and government activities to expand the utilization of bland medications. In addition, favourable regulatory policies, expiry of the branded drugs, and growth in biosimilars segment are expected to boost the generics drugs market. Furthermore, participants in the supply chain such as wholesalers, retailers and pharmacies also benefit from the sale of the generic drugs with high margins compared to branded generics. This emerged as key driver for the growth of global generic drugs market. However, lack of awareness about the availability of generic drugs, competition from branded generics and lack of price control are hampering the generic drugs market.
A sample of this report is available upon request @
https://www.precisionbusinessinsights.com/market-reports/global-generic-drugs-market/#ulp-4H8Z4LpNMLEuOnnx
Generic Drugs market segmented based on therapeutic area and distribution channel
Based on therapeutic area, global generic drugs market is segmented into
• Cardiovascular
• CNS
• Antibiotics
• Oncology
• Gastrointestinal
• Hormones
• Pain Management
• Others
Based on distribution channel, global generic drugs market is segmented into
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
To view TOC of this report is available upon request @
https://www.precisionbusinessinsights.com/market-reports/global-generic-drugs-market/#ulp-c654SbFYO64MsOhu
Generic drugs market is highly fragmented market, presence of large players and small players. To improve their market position in generic drug market companies are adopting strategies like expanding their market presence through collaboration and entering into new markets. For instance, in January 2017, Medical inhaler company Vectura Group PLC collaborated with Sandoz, a division of Novartis AG, to develop a generic version of an inhaler therapy for asthma and COPD (chronic obstructive pulmonary disease). In January 2016, Momenta collaborated with Mylan Laboratories for the development, manufacture and commercialization of six of its biosimilar candidates, including M834, Orencia (abatacept) a biosimilar candidate. Mergers and acquisitions are key strategies adopted by various market players. For instance, in August 2016, Teva Pharmaceutical Industries Ltd Acquired Allergen’s generic business Actavis Generics to expand their product, R&D portfolio and geographical footprint in generic market.
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Geographically generic drugs market segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America generic drugs market is expected to grow at significant rates owing to availability of more number of generics, increase awareness about the generic drugs and favourable regulatory policies and acts such as Affordable Care Act 2010. In Europe region, Belgium and UK expected to grow at notable rates owing to prevalence of chronic diseases, increase in investment on biosimilars, and increase awareness about generic drugs. Asia Pacific Region expected to be fastest growing due to increased government initiatives in usage of generic drugs and increase in awareness about generic drugs. Especially emerging countries like India government initiating different policies and schemes to boost the usage of generic drugs, For instance, Government of India taken an initiative of opening Jan aushadhi stores to make available quality generic medicines at affordable prices to all citizens.
Some of the market players in generic drugs market are Mylan N.V. (U.S.), Sun Pharmaceutical Industries Limited (India), Teva Pharmaceutical Industries, Ltd. (Israel), Dr Reddy’s Laboratories (India), Novartis AG (Sandoz International GmbH) (Switzerland), Apotex Holdings Inc. (Canada), Endo International plc (U.S.), Pfizer Inc. (U.S.), Johnson & Johnson Services Inc., (Janssen Pharmaceutica) (U.S.), Lupin Limited (India), Merck & Co, Inc. (U.S.), Mitsubishi Tanabe Pharma (Japan), Momenta Pharmaceuticals (U.S.), Nexus Pharmaceuticals (U.S.), and Novo Nordisk (Denmark) to name a few.
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